Back to the Future

July 31st, 2008 9:44 pm | by John Jansen |

The FT reports that Russia plans to create a state controlled grain trading company. Russia is the fifth largest exporter of grains and the trading company would control 40 percent to 50 percent of the country’s output,according to the FT story.

The bottom line is that this action will probably lead to higher food prices in countries that can ill afford it.

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